Cryptocurrency has come to stay. Yes, despite what some anti-progressive media houses would have you believe it's no longer taboo to speak of cryptocurrency or its underlying technology, the blockchain. It is everywhere and with each passing day a new company or industry adopts it in one form or another.
Naturally, innovative people will seek to hop on the train and provide a service in order to benefit from blockchain technology. Today we have Legacy cryptocurrency like Bitcoin and Ethereum, custom cryptocurrency like Steem/SBD and Digitex, and tokens. Most tokens are ERC20 standard cryptocurrency generated from an Ethereum-based smart contract.
According to Etherscan and Eidoo there are over 20,000 token contracts in existence. Keep in mind that each blockchain is like an island on its own, to inter-mingle trading must occur.
Trading is when you buy/sell cryptocurrency for fiat or cryptocurrency.
There are so many advantages that cryptocurrency has over normal fiat. First we have the transparent ledger, limitless use, ease of transfer, cheaper fees and of course an immutable record that is decentralized and therefore cannot be controlled or shut down.
Exchange Platforms help the normal crypto trader to swap from coin A to coin B. Exchanges can also be used to buy cryptocurrency with fiat, or sell crypto for fiat. Nowadays, many exchanges find themselves unwillingly acting counter-active to some of the basic tenets of cryptocurrency. For example, many exchanges charge high fees to process withdrawals(and sometimes deposits). Some exchanges also charge a commission for every trade you make on their platform.
Now we understand that the exchanges are WEBSITES that run on servers, and the servers and staff employed aren't free, but the many fees undermine the superiority of crypto over fiat as they negatively affect adoption.
Cobinhood is a digital currency exchange that promises zero trading fees. It is the first exchange of it's kind. Cobinhood intends to derive it's service fees from ICO services and underlying services for major(rich) projects in order to keep the trading fees for the customers free.
Cobinhood is a clever play on Robin Hood, with their model basically to take from the rich and give to the poor, just like the fictional character.
Let us look at their introduction video
COBINHOOD VISION
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Cobinhood recognizes that the current model of most exchanges puts traders and investors at a disadvantage. Why pay high fees for average or poor service? Many exchanges are poorly maintained and this leads to traders missing out on good trade opportunities, hacking incidents, or just poor latency resulting in slow circulation. Cobinhood aims to empower traders to allow them maximize profit from trading.
Cobinhood won the Red Dot Award: Communication Design 2018 for it's unique design and attention to detail. Source
FEATURES OF COBINHOOD
- High Performance Matching Engine
Cobinhood has an advanced matching Engine capable of processing over 1 million trade orders per second.
- Advanced Security
Cobinhood functions with an ultra-secure firewall to filter and block all known intrusion methods and hacker activity.
- Cold Storage
Cobinhood doesn't store funds online as they could be in danger if a security breach was to happen. Cobinhood stores funds in secure cold storage with at least 5 out of 8 unique high security modules(signatures) required to withdraw them. These 8 security key holders are physically distributed widely across the world. This makes it impossible for traders or investors to lose their funds.
- Insurance
in order to make sure that investors are never left stranded in the aftermath of an unlikely successful attack, all Cobinhood crypto deposits are insured.
- Quality Control
Cobinhood promises to only list fully scrutinized and vetted projects for trade and for its ICO services as well. Cobinhood aims to promote adoption of crypto and in order to do that, it must push forward only the viable and innovative ideas that will impart our lives positively. Investors don't have to worry about scam or dead projects when using Cobinhood.
Cobinhood is not just the average exchange platform. It offers many services, such as
Exchange Platform
ICO Services
Developer Platform
Margin Trading
Instant Listing
Free Token Airdrops
WHO IS COBINHOOD FOR?
Cobinhood has something for everyone. The Cobinhood platform is user friendly and very robustly built to welcome, ease-in and accommodate new traders and advanced traders alike.
NEW TRADERS: New Traders are give the opportunity to win free cryptos with popular Cobinhood campaigns like Candy Machine & Airdrop Center. Cobinhood provides detailed and easy-to-understand tutorials to have the new trader up and earning in no time. New traders can also join any of the connected dedicated communities and forums to network and acquire more knowledge. Cobinhood's cryptocurrency market info pages also presents the new trader with invaluable information on all the latest and trending cryptocurrencies on the market.
ADVANCED TRADERS: For the advanced traders, Cobinhood is the right place to be. Cobinhood offers a high-speed platform that can handle high volume trades. The zero-fees feature of Cobinhood allows experienced Traders to enjoy the profitable venture of Margin Trading. Traders can earn COB Points through the loyalty system of the Cobinhood ecosystem.
STARTUPS: Cobinhood offers ICO services. Cobinhood will help you plan and launch your ICO, as well as give you the necessary media tools and connections to make your ICO a success. This is all subject to a thorough review and passing of Cobinhoods standards test.
Cobinhood aims to be a global service. Their customer base has expanded to over 100 countries, and over 10 languages are supported. These include
English | Chinese | Dutch | German | Italian | Korean | Portuguese | Russian | Spanish | Turkish | Vietnamese
Everyone can create an account on COBINHOOD Exchange, though certain territories might have limited or no access to the service at the moment due to regulatory compliance(New York, & Japan). As of Dec. 25, COBX is now open to Australia. For Taiwan, it’s cryptos only. This may change according to respective regulations).
Cobinhood has listed major cryptos like Dash and EOS and has conducted successful ICOs for projects such as Zeus, SimplyBrand, SocialMedia.Market, HOQU (HQX), Universa (UTNP), SyncFab (MFG), Achain (ACT) and Playcoin (PLY).
In the next article we will go into the different Products of Cobinhood.
For more information about Cobinhood you can visit the Cobinhood Website
Take a look at Cobinhood Products & Service
You can see the Cobinhood Team
Reach Cobinhood on Social Media
Telegram | Facebook | Github | Medium | Twitter | Instagram: |
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https://cobinhood.zendesk.com/hc/en-us/articles/115002483372-What-is-COBINHOOD-and-what-do-they-do-
https://cobinhood.zendesk.com/hc/en-us/community/topics
https://cobinhood.com/announcements
DISCLAIMER: The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investing should be carried out based on any information presented here. You can lose all of your money by not investing wisely. The above information is for educational and entertainment purposes only. Kindly Endeavor to DO YOUR OWN RESEARCH.
Image Credits - All images were derived from the Cobinhood website.